Robin, a 70-year-old retired arts teacher from California, survives on an annual income of $14,000 in social security payments.

“I became disabled and retired about 20 years ago,” she says. “My life became unaffordable then, but I’m very good at budgeting so I was able to manage.

Robin was among scores of Americans who shared with the Guardian that they have been borrowing more money in recent months or years than they used to, mostly in order to cover normal expenses.

US consumer borrowing rose by $14.1bn in February, driven by the largest increase in credit card balances in three months. Analysts believe that the soaring cost of consumer debt for US households could affect president Biden’s chances for re-election, as for the first time on record, interest payments on credit cards and car loans are as big a financial burden for Americans as their mortgage interest.

Respondents to an online callout about personal levels of consumer borrowing in the US included adults of all ages and from areas across the country, with most saying they were now struggling to repay their debts.

“I can usually manage the regular things,” Robin says. “I rent a room for $450. My monthly credit card payment is $100, I like to pay it down as fast as possible.

“It’s the unexpected expenses I struggle with, and they happen all the time, don’t they: new car tyres, taking my dog to the vet. I owe $2,500 dollars and I chip away at it, but what if my rent goes up? What if my 1997 vehicle needs to be replaced?

“If the Federal Reserve would lower the interest rates, I’d at least be able to pay less interest on my debts. It’s so stressful, and lots of people are in this situation.”

The Federal Reserve announced on Wednesday that it would leave US interest rates at 5.25% to 5.5% – a 25-year high – where they have been since July.

Kenneth, 42, an apartment maintenance man from Fayette, Alabama, is feeling the impact.

“I have absolutely been borrowing more than I previously did, everything costs more and wages are low in rural Alabama,” he says. What affects him the most, he says, is the high interest on his debts.

“If you have to borrow money and can’t get it from a bank, you are going to pay interest rates at 35% and that’s just ridiculous. I took out a loan for $2,000 for 24 months, and I have to pay back over $4,000.”

He worries every day, he says, about his ability to repay what he owes. “I’m tied to one loan for 48 months, but who can even plan for that long with the way things are now?”

Donna, 63, an accountant from Oregon, was among various people who said they had been borrowing more recently because of available 0% interest credit offers.

“The last couple of years, when inflation hit really hard, that’s when my credit card borrowing started, as I haven’t had a raise in three years,” Donna says.

“I’m now playing the credit card swap game: large expenses such as car repairs go on a 0% card. I then carefully monitor the expiration date of that deal on a spreadsheet and eventually transfer the balance to a new 0% interest card.”

Donna’s annual income of $50,000 no longer suffices, she says, to cover all her expenses, despite her frugal lifestyle.

“I go camping for vacation, shop at thrift stores, eat a plant-based diet, rent out a room in my house and dog sit.

“Wages aren’t catching up with costs. Handymen charge $125 per hour now in my area. You can’t make $24 an hour and pay someone $125 an hour to do your maintenance. In 2008 I made $65,000 before I lost that job. How am I supposed to get by on 15% less than I was making 15 years ago?”

Donna also was among many who said they had fallen into the red recently after they were forced to pay for unexpected medical bills, despite having health insurance.

A torn ligament in her foot meant she had to pay almost $10,000 towards a surgery last year, as per her insurance’s annual personal excess fees.

“The 0% credit cards have been a godsend, but this year I’ve pulled $7,000 out of my retirement fund to pay off some of my debts, and over the past couple of years I’ve taken out 10% of my retirement pot to cover bills. This will be impossible to replenish.

“The surgery cost $9,200, 25% of my net annual income of $36,112 after taxes and social security – no wonder I’ve had to live off credit cards and retirement savings!

“It’s frightening to pull from my retirement fund just to get by, wondering how poor I’ll be when I finally do retire, if I’ll be able to maintain my home. If you’ve worked your whole life, it’s just not right.”

The spiraling cost of home repairs was referenced by many, with various people saying they had been borrowing large amounts recently to fund home maintenance.

Special education teacher Chris, 52, from Denver, Colorado, racked up $47,000 in loans because of unaffordable healthcare bills and essential home repairs over the past three years.

In 2020 he was finally debt-free after paying off $54,000 since his divorce, he says, but then a $12,000 medical bill came in, two HVAC [air conditioning] units in his house needed replacing and some trees removing.

Chris borrowed $33,000, then took out another $17,000 loan to help repay the first.

“I borrowed from Peter to pay Paul,” he says, “although I increased my salary from $65,000 to $125,000 last year by teaching summer school and additional classes. Denver is pretty expensive, and I pay child support, so I ended up working a second job, driving for a ride-share company, to fight my way out of this debt.

“I drive all night over the weekend to make $1,000 extra a month, so sometimes I worry about my health. I hope I can keep this up for a few more months, I still owe $14,000. Most Americans I know have a second job.”

For Alex, a 44-year-old from Los Angeles who has been working in senior management positions in the entertainment industry, life in the United States has lost its appeal because of his persistent struggle with debt.

After he lost his job during the Covid pandemic, it took him approximately 18 months to secure a new position.

“During this challenging period, our savings were completely exhausted, by 2022 I had run out of money,” he says.

Although he eventually found a job with a top salary, Alex says, escalating prices of goods, soaring interest rates and rent costs have intensified his young family’s reliance on credit cards.

“My wife and I borrowed $100,000 and paid that off, but now we’re another $100,000 in the hole, to cover bills and debts, although I was on $250,000 in my last job. I was just laid off again, and the burden of our credit card debt severely limits our capacity to save and appreciate the fruits of our labour.”

With a monthly rent of $4,000 for a two-bed apartment and a monthly $1,800 bill for private health insurance, the couple are currently only able to pay interest on their debts.

“This reliance on credit has become a necessary strategy to ensure we can manage our day-to-day expenses and maintain the status quo for our son, so his activities aren’t disrupted,” Alex says.

He was among a number of people who said they were contemplating leaving the US because of their financial situation.

“Given these economic pressures, we’re seriously considering relocating to countries with a lower cost of living, higher job stability and better quality of life. We’re thinking of going to France, Spain or Italy.

“The American economy is so cut-throat that people are too scared to take annual leave. The rat race is toxic, and the American dream? It’s dead for the majority.”

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